Entirety: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Entirety
Largest movements
- Receivables within one year +€92,193
up €92,193 (+585%), from €15,753 to €107,946
of which Trade receivables: +€87,578
- Cash +€53,026
up €53,026 (+234%), from €22,655 to €75,682
mainly Net result for the year (+€135,516) and Other debts (+€34,412)
- Deferred charges and accrued income -€15,549
down €15,549 (-54.8%), from €28,362 to €12,813
- Tangible fixed assets -€10,423
down €10,423 (-3.5%), from €299,867 to €289,444
of which Land and buildings: -€7,618
- Reserves +€90,213
up €90,213 (+25.4%), from €355,719 to €445,932
- Other debts +€34,412
up €34,412 (+399%), from €8,626 to €43,038
- Gross operating margin +€138,374
up €138,374 (+190%), from €72,889 to €211,263
- Taxes +€35,168
up €35,168 (+157%), from €22,341 to €57,508
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,253 | €566,500 | +€119,247 | +26.7% |
| Fixed assets | 21/28 | €299,867 | €289,444 | -€10,423 | -3.5% |
| Tangible fixed assets | 22/27 | €299,867 | €289,444 | -€10,423 | -3.5% |
| Land and buildings | 22 | €297,062 | €289,444 | -€7,618 | -2.6% |
| Furniture and vehicles | 24 | €2,805 | €0 | -€2,805 | -100% |
| Current assets | 29/58 | €147,386 | €277,056 | +€129,670 | +88.0% |
| Amounts receivable within one year | 40/41 | €15,753 | €107,946 | +€92,193 | +585% |
| Trade receivables | 40 | €14,346 | €101,924 | +€87,578 | +610% |
| Other amounts receivable | 41 | €1,407 | €6,022 | +€4,615 | +328% |
| Current investments | 50/53 | €80,615 | €80,615 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,655 | €75,682 | +€53,026 | +234% |
| Deferred charges and accrued income | 490/1 | €28,362 | €12,813 | -€15,549 | -54.8% |
| Total equity and liabilities | 10/49 | €447,253 | €566,500 | +€119,247 | +26.7% |
| Equity | 10/15 | €375,719 | €465,932 | +€90,213 | +24.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €355,719 | €445,932 | +€90,213 | +25.4% |
| Distributable reserves | 133 | €355,719 | €445,932 | +€90,213 | +25.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,534 | €100,568 | +€29,034 | +40.6% |
| Amounts payable after more than one year | 17 | €2,647 | €0 | -€2,647 | -100% |
| Financial debts | 170/4 | €2,647 | €0 | -€2,647 | -100% |
| Amounts payable within one year | 42/48 | €68,830 | €100,542 | +€31,711 | +46.1% |
| Current portion of amounts payable after more than one year | 42 | €36,310 | €37,777 | +€1,467 | +4.0% |
| Trade debts | 44 | €1,961 | €1,027 | -€934 | -47.6% |
| Suppliers | 440/4 | €1,961 | €1,027 | -€934 | -47.6% |
| Taxes, remuneration and social security | 45 | €21,933 | €18,700 | -€3,233 | -14.7% |
| Taxes | 450/3 | €21,933 | €18,700 | -€3,233 | -14.7% |
| Other amounts payable | 47/48 | €8,626 | €43,038 | +€34,412 | +399% |
| Accrued charges and deferred income | 492/3 | €57 | €26 | -€31 | -54.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,934 | €17,200 | -€1,734 | -9.2% |
| Other operating charges | 640/8 | €2,211 | €2,281 | +€70 | +3.2% |
| Gross operating margin | 9900 | €72,889 | €211,263 | +€138,374 | +190% |
| Operating profit (loss) | 9901 | €51,744 | €191,782 | +€140,038 | +271% |
| Financial income | 75/76B | €2,161 | €2,713 | +€552 | +25.5% |
| Recurring financial income | 75 | €2,161 | €2,713 | +€552 | +25.5% |
| Financial charges | 65/66B | €2,483 | €1,471 | -€1,011 | -40.7% |
| Recurring financial charges | 65 | €2,483 | €1,471 | -€1,011 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €51,422 | €193,024 | +€141,602 | +275% |
| Income taxes | 67/77 | €22,341 | €57,508 | +€35,168 | +157% |
| Profit (loss) for the period | 9904 | €29,082 | €135,516 | +€106,434 | +366% |
| Profit (loss) for the period to be appropriated | 9905 | €29,082 | €135,516 | +€106,434 | +366% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.